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3 Apr 2013
Forex Flash: USD/JPY to see further downside? - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank believes that the BOJ governor has big shoes to fill on Thursday given the constant stream of dovish rhetoric over the past week.
He feels that if the 93.00/30 area is pierced, then look for scope to test towards 91.70. Moving to AUD/USD, he adds that the pair blipped higher again in early trade on Wednesday following a smaller than expected Feb trade deficit. He writes, “With markets perceived to be risk-neutral for now, expect headline driven price action in the near term with the pair seen supported on dips within a 1.0360-1.0500 band.”
He feels that if the 93.00/30 area is pierced, then look for scope to test towards 91.70. Moving to AUD/USD, he adds that the pair blipped higher again in early trade on Wednesday following a smaller than expected Feb trade deficit. He writes, “With markets perceived to be risk-neutral for now, expect headline driven price action in the near term with the pair seen supported on dips within a 1.0360-1.0500 band.”